Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Big news today. Balance of Trade deficit came in lower than expected and Jobless Claims also came in lower than expected. This is great news for the economy. Translation - mortgage rates will continue to worsen.
Technically speaking - the FNMA 5.5% 30 year bond has broken through the 50 day moving average and falling towards the next support level. The 50 day moving average could pull the bond back up, but at this stage that is doubtful
With this, the recommendation on all programs will be to
Lock.
To learn why one should Float or Lock -
Check out Should I float? Should I lock? & Reasons to Float or Lock
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